Corn contracts closed down by 4 to 6 cents on Thursday, with the CmdtyView national average cash corn price at $4.10 3/4, a decrease of 6 3/4 cents. The USDA’s weekly export sales report for the week of July 9 showed corn exports at 314,962 metric tons, falling short of the 500,000 to 1 million metric ton estimate, though it was over three times higher than the same week last year.
The International Grains Council (IGC) reduced its 2026/27 world corn production forecast by 4 million metric tons to 1.306 billion metric tons, citing excessive heat affecting France’s crop yields. For the upcoming week, the National Oceanic and Atmospheric Administration (NOAA) predicts a mostly dry forecast for the Western Corn Belt, with trace amounts of rain, while the Eastern Corn Belt could receive between 0.5 to 1.5 inches of precipitation.
Key market prices include September corn at $4.41 1/2 (down 6 cents), nearby cash corn at $4.10 3/4 (down 6 3/4 cents), December 2026 corn at $4.64 (down 5 1/2 cents), and March 2027 corn at $4.79 1/2 (down 4 3/4 cents).
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